A pretty shaky start to the month, as the HLHB Trend-Catcher System caught a lot of forex fakeouts instead of trends. Here’s what’s up!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
The NFP week was a bust for EUR/USD, as it traded on tight ranges for most of the week. It saw action when Yellen gave out not-so-hawkish remarks but soon returned to its tight trading conditions and stayed there for the rest of the week. Unfortunately, the HLHB System only validated three signals, two of which turned out to be fakeouts. By the end of the week the tug-o-pips resulted to a net gain of 1 pip. 1 PIP!!! 🙂
GBP/USD also saw tons of fakeouts especially in the first half of the week. There were more valid signals during the second half though most of them turned out to be fakeouts, too. By the end of the week Cable yielded a net loss of 23 pips. Not too bad, I guess.
Overall the results are what you can expect from using a trend-catcher on a ranging week. Crossing my fingers for stronger trends though! Do you think there’s a dance or ritual I’m missing to get one of those trend-y weeks?
P.S.: Remember to never risk more than 1% of a trading account on any single trade and to adjust position sizes accordingly. Create your own ideas and don’t follow what I do. Better yet, read the Risk Disclosure!
2014 HLHB Trend-Catcher Performance